Global Urban Air Mobility Market to Hit USD 126.0 Bn by 2035 | CAGR 34.31%

Read more about this report- Global Urban Air Mobility Market to Hit USD 126.0 Bn by 2035 | CAGR 34.31%

The Urban Air Mobility (UAM) Market is valued at USD 4.91 Billion in 2024. The Urban Air Mobility Market will achieve USD 126.0 Billion by 2035 through a projected 34.31% CAGR from 2025 to 2035.

Growth in urban congestion and desire to achieve speedy intra-city transportation highlights the UAM market as a main growth driver, whereas lack of air traffic management infrastructure in city settings is a major restraint. One significant area is electric vertical take-off and landing (eVTOL) aircraft integration into smart cities' transport systems that will transform transportation systems in cities.

The urban air mobility market is divided into segments, namely Platform (eVTOL, fixed-wing, hybrid), Operation Mode (piloted, autonomous), Range (intercity, intracity) and End-User (ride-sharing companies, hospitals, logistics, military). eVTOL platforms have the largest market share because of the progress of battery technology and the increased investment in zero-emission air traffic.

Applications of urban air mobility are air taxis, emergency medical transport, last-mile delivery and military surveillance. There is increasing demand in the area of air taxi services, particularly for the recent innovation of AI-pilotised-flight routing or the innovation of lightweight composite materials that allow for quiet and efficient short-range transport.

Adaptation of public infrastructure and favourable airspace policies play a major role in the growing UAM endeavour, with places such as South Korea taking the lead in enhancing accessibility through programmes such as the K-UAM Grand Challenge, which encourages the pilot testing of autonomous air vehicles and public infrastructure merging in major cities.

The UAM market has five geographic regions, which are North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The US exhibits relative progress since regulatory structures such as the FAA offer support in commercial eVTOL prototyping and certification, as well as the dynamically increasing interest on the part of the privately led and publicly led mobility ventures.

The key players in urban air mobility are Joby Aviation, Volocopter, EHang, Archer Aviation, and Supernal, who are positioned to become future strategic players in this industry. Such firms create a driving environment through massive investments in R&D, establishment of public-private partnerships, and pilot programmes on air taxi commercialisation and regulatory approval in the world's leading urban centres.